16:59 GMT11 May 2021
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    Azerbaijan is planning to reduce its oil output by the same percentage as Russia and other non-OPEC countries, the country's Energy Ministry said Thursday.

    BAKU (Sputnik) — The Organization of the Petroleum Exporting Countries (OPEC) announced last week that they were looking for non-OPEC countries to reduce output by 600,000 barrels per day starting in January 2017.

    Russian Energy Minister Alexander Novak said that Moscow is ready to gradually reduce its oil output by up to 300,000 barrels per day starting in January 2017 in light of a new OPEC agreement on oil production ceiling.

    "Azerbaijan is planning to determine the production volume considering the reduction percentage which is similar to that of Russia and other non-OPEC producers," ministry's spokeswoman Zamina Aliyeva said.

    Related:

    Russian Energy Ministry Hopes Higher Oil Prices to Offset Production Cuts
    Russian Energy Ministry to Draft Oil Production Cuts Plan By Dec. 9 OPEC Meeting
    Russia Welcomes OPEC's Agreement on Oil Production Cuts – Energy Minister
    Tags:
    oil production, Alexander Novak, Azerbaijan, Russia
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